St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-04
On the Chicago Board Of Trade Wheat
Was Considerably Active and
Stronger.
The Improved Tone Was Accompanied by
Moderate Advance in
Prices.
The Crowd Still Discussing the Heavy
Deliveries Made on
Monday.
Transactions In the Financial Circles
of Wall Street--General
Quotations.
Special to the Globe.

SHlCAGO, May S.-Ine taklng Oh tue casn
wheat and the paying for it by the clique is
the topic that overshadows all the others in
speculation now. The traders, whose nerves
had been little upset by this denouement
TO the May operators, are seeking to belittle
the fact and can easily do it. There were
Just enough queer incidents to the transfer
of this big block of property to give the gos-
Sips opportunity for all sorus of sensations.
It is true that the wheat was not all paid for
yesterday up to o'clock, and it is true that
The checks ought to have been around in set
element by IL clock, and it is true that one
DR. two large holders were requested by one
Of the clique houses not to deliver for day
or So But what did these things mean more
than that the payment out of cash to the
amount of SIS, 00O, 900 in checks, big or little,
was vast undertaking. One of the firms got
badly mixed up in the accounts OF their
wheat, but that was not remarkable either.
The receipts were for several million bushels
of wheat, and were sufficient in number to
MAKE UP A DICTIONARY.
Kershaw & Co. are credited with taking
1000, 900 blu of wheat. 1t is reported on good
authority that the firm had S4,000,000 to pay
for its wheat, and that it consequently did not
get quite as much as it expected. Maurice
Rosenfeld said: I'VE did not try to put out
any receipts at all yesterday. We shall de-
liver but little wheat to-day. How much
will we pay for and keep? Well, more than
anybody has credited us with so far as have
heard" The truth of the matter is that the
clique now controls the cash wheat. There
will undoubtedly be some shifting around as
the receipts are sifted out, and perhaps to
throw the old time mystery around the manip-
ulation. Armour and the clique have the cash
stuff, significant fact, perhas, and perhaps
not. The outside markets were more affected
to-day than Chicago. st. Louis was up about
cent bushel at the start, and New York
hiUhaP
side markets, which have all day furnished
the most cogent bear argument have appar-
emily started with Il rush up toward Chicago.
The bear arguments they furnished may have
altogether disappeared by another fortnight.
p. ID. Armour says to-day: 1.-THE situation in
wheat is very strong. We have sold a great
deal recently for export. l hold cash wheat
at Duluth and other points, but as a mer
chant would hold on to property that he be-
lieved low priced. l have no connection with
any manipulation at Chicago
THE ROUTINE REPORT.
CHICAGO, May 3.-The wheat market was
active and stronger to-day accompanied by a
moderate advance in prices. The market
opened at $500 for June, sold to sac, several
times broke off to S3%c, but closed in the
latest trading at S37s9S4c with May at SIC.
The wheat buyers were divided among the
local crowd, but none of them wanted any
large amounts early in theeday. After noon,
however, they looked on it as a better pur-
chase and June advanced to SIC. There was
little or no news on the floor and nothing of
any Importance talked about. There was the
usual after talk on the subject of yesterdays
deliveries. 1t is now pretty positively known
that Kershaw paid for about 100000
bushels of cash wheat and that an
equal quantity was divided up among
other houses. The general belief is now that
1.-The clique" owns practically all the cash
wheat. A reported good export demand at
the seaboard was one of the strengthening
features of the days trading. Corn was
active and firm. The receipts show falling
off and operators were more inclined to pur-
chase. The market opened shade higher at
39Ac for June, rose to 391sc and closed at
outside figures. Oats were inAbetter demand
and stronger, receipts again showing falling
off. The market closed &c higher than ON
yesterday Mess pork was in moderate de-
mand in the way Of settling up outstanding
trades at current rates. Lard opened steady
and gradually fell back and closed 10c lower
per 100 lbs than yesterday. Short ribs were
quite weak, closing 171a@20c per 100 lbs
lower.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2. May, opened at Size, clos
ing at SIC; June, $3.50, closing at S37s@S4c:
July, $3.50, closing at S35s@s4c; August, 50 nc,
closing at S27sc. Corn-No. 2, May, 375sc,
closing at 3s14c: June, 39Hc, closing at 391sc;
July, 4l4c, closing at 4l@c; August,
27c, closing at 271sc; June, 2S1ac,
closing at 2S5ac; July, 2SAc, closing at 291 &c.
Mess pork, per barrel-May, $23,25, closing
at S23.25; June $23.25, closing at $685.
Lard, per 100 pounds-May, S6.S71a, closing
at $3.50; June, 81, closing at $6.s71a; July.
S7.O7h, closing at S6.971a; August, $7.12h,
closing at $6.O71a. Short ribs, per 100
pounds-May, $7.35. closing at 81. 80;
June, 500, closing at s7.421a;
July, S7.72%, closing at S7.52%.
August, $3.50, closing at $3.50. Cash
quotations were as follows: Flour quiet
and unchanged. Wheat-No. spring, $3.50
see; No. spring, 73c; No. 2 red, Size.
Corn-No. 2, 3S14c. Oats-No. 2, 271sc. Rye
No. 2, SIC. Barley-No. 2, SIC. Flax Seed
No. l, SLOT Timothy Seed-Prime, $I.6t
al .65. Mess pork, per Dbl, $23.25. Lard,
per 100 lbs, $3.50. Short ribs sides, loose,
$3.50; dry sailed shoulders, boxed SIS. 9O@6;
short clear sides, boxed, ST.90@795. Whisky,
dstilIers' finished goods, per gal, S1.1S. Sugars
Cut loaf, 614@65sc; granulated. &c; stand
ard A, SIC. Receipts-Flour, 10000 bbs;
wheat, 100000 bu; corn, $4,000 blu; oats,
100000 bu; rye, 1901 bu; barley, $4,000 blu.
Shipments-Flour, 1000 bbls; wheat $4,000
bu; corn, c62,000 blu; oats, $4,000 bu; rye,
1900 bu; barley, 10000 bu. On the produce
exchange to-day the butter market was fairly
steady; creamery, 1S@23c per ID: dairy, l6
@211ac per 10 Eggs, 1014@1Ohc per doz.